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Posted on August 2, 2018 by staff

Apple pips rivals to post for $1 trillion valuation

Apple has broken records to become the world’s first publicly listed company to be worth $1 trillion.

The hugely popular tech company’s market capitalisation reached the landmark figure in afternoon trading in New York as its shares rose above $207 following a jump of 2.8 per cent.

The stock has risen about 9 per cent since Tuesday when it announced better-than-expected results for the three months to June and that it had bought back $20bn of its own shares.

The company, which rose to fame as the maker of the iPod and iPhone, has seen its stock rise more than 50,000 per cent since it first listed in 1980.

Amazon is also tipped to be approaching the valuation, surpassing $900bn in market value last month.